Iner-UNF Corporation acquired as a long-term investment $230 million of 8% bonds, dated July 1, on July 1, 2021. mpany management has classified the bonds as an available-for-sale investment. The market interest rate (yield) s10% for bonds of similar risk and maturity. Tanner-UNF paid $210 million for the bonds. The company will receive arest semiannually on June 30 and December 31 . As a result of changing market conditions, the fair value of the ids at December 31, 2021, was $220 million. qulred: 2. Prepare the joumal entry to record Tanner-UNF's investment in the bonds on July 1, 2021 and interest on cember 31, 2021, at the effective (market) rate. repare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2021. ance sheet. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the estment on January 2,2022 , for $200 million. Prepare the journal entries necessary to record the sale, including Jating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. Answer is not complete. Complete this question by entering your answers in the tabs below. uppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment n January 2,2022 , for $200 million. Prepare the journal entries necessary to record the sale, including updating the fairalue adjustment, recording any reclassification adjustment, and recording the sale. (If no entry is required for a ansaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 ecimal place, (i.e., 5,500,000 should be entered as 5.5).) Iner-UNF Corporation acquired as a long-term investment $230 million of 8% bonds, dated July 1, on July 1, 2021. mpany management has classified the bonds as an available-for-sale investment. The market interest rate (yield) s10% for bonds of similar risk and maturity. Tanner-UNF paid $210 million for the bonds. The company will receive arest semiannually on June 30 and December 31 . As a result of changing market conditions, the fair value of the ids at December 31, 2021, was $220 million. qulred: 2. Prepare the joumal entry to record Tanner-UNF's investment in the bonds on July 1, 2021 and interest on cember 31, 2021, at the effective (market) rate. repare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2021. ance sheet. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the estment on January 2,2022 , for $200 million. Prepare the journal entries necessary to record the sale, including Jating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. Answer is not complete. Complete this question by entering your answers in the tabs below. uppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment n January 2,2022 , for $200 million. Prepare the journal entries necessary to record the sale, including updating the fairalue adjustment, recording any reclassification adjustment, and recording the sale. (If no entry is required for a ansaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 ecimal place, (i.e., 5,500,000 should be entered as 5.5).)